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UK – Most finance contractors expecting 2014 pay rise

17 February 2014

Finance contractors expect their pay to rise for the third year in a row according to a report by professional umbrella employment provider, giant group. According to the organisation’s latest survey, 66% of respondents expect an increase in earnings over the next 12 months. This represents a growth of +6 percentage points from 2012, and +12 percentage points from 2011 when 54% predicted an increase in pay.

These findings reflect the increasingly optimistic outlook for contractors within the finance sector.

In addition to the above, the percentage of contractors reporting an average gap of 0-31 days between assignments has also risen for the third consecutive year (80%) representing a +4% increase from both 2011 and 2012.

In comparison, those noting an average gap of 90 days or more between assignments stands at 8%, the lowest figure for the past two years. This highlights the improving nature of the market and the growing number of opportunities available to contractors in the finance sector.

Matthew Brown, Managing Director of giant group, commented: “The results paint a positive picture for finance contractors. We’re seeing growth in almost every area and particularly promising is the rise in expected earnings for the third year in a row. The drop in individuals experiencing a gap of 90 days or above between assignments is also very optimistic and indicates the ever-increasing number of opportunities available to these professionals. This is also highlighted by the fact the number of contractors experiencing an average gap of between 0-31 days has grown for the third year in a row.”

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